In a report released on August 28, Mitch Ryan from Jefferies reiterated a Buy rating on South32, with a price target of p310.00. The company’s shares closed last Friday at A$5.25.
According to TipRanks, Ryan is a 4-star analyst with an average return of 9.6% and a 63.64% success rate. Ryan covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, South32, and PLS Group.
South32 has an analyst consensus of Moderate Buy, with a price target consensus of p267.06, implying a 4,986.86% upside from current levels. In a report released on August 27, Barclays also maintained a Buy rating on the stock with a £2.60 price target.
Based on South32’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of A$2.96 billion and a net profit of A$619.03 million. In comparison, last year the company earned a revenue of A$2.6 billion and had a GAAP net loss of A$147.05 million
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is neutral on the stock.
